REG - Land Sec. Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">LAND.L</Origin> - Part 1

Land SecuritiesAnnouncement

26/06/2017 16:36

RNS Number : 2005J
Land Securities Group PLC
26 June 2017
Land Securities Group PLC
("Company")
Notification of transactions by
Persons Discharging Managerial Responsibilities ("PDMRs")
On 26 June 2017, Land Securities Group PLC ("Landsec" or the "Company") was notified of the following transactions in its ordinary shares of 10p each ("Shares") by Executive Directors* and other PDMRs.
(1) On 23 June 2017, PDMRs listed below acquired an interest in Options over the Company's Shares following the grant of awards under the Company's 2012 Sharesave Plan ("Sharesave"). The numbers of Options were calculated by reference to a price of 8.59, being the Company's middle market quotation for a Share between Wednesday 24 May 2017 to Friday 26 May 2017, discounted by 20%.
Sharesave: Awards normally vest on the third or fifth anniversary of grant. Subject to continued employment with Landsec, the PDMRs will become entitled to exercise the Options arising from Sharesave between 1 August 2020 and 31 January 2021 (3 year contract) and 1 August 2022 and 31 January 2023 (5 year contract).
NameSharesave Award 
 
Martin Greenslade* 1,047
Robert Noel* n/a 
Colette O'Shea 1,047 
Scott Parsons n/a 
(2) On 25 June 2017, Nil Cost Options (the "Options") granted under the Company's Deferred Share Bonus Plans ("DSB") on 25 June 2015 to the PDMRs listed below vested and became exercisable between 25 June 2017 and 25 June 2020 following the conclusion of the two year holding period. 
Name2015 DSB
Martin Greenslade* 17,066 
Robert Noel* 25,231 
Colette O'Shea 7,748 
Scott Parsons 7,154
(3) On 26 June 2017, PDMRs listed below acquired an interest in Options over the Company's Shares following the grant of awards under the Company's Deferred Share Bonus Plan ("DSB"), the Company's Long Term Incentive Plan ("LTIP") and the Company's Matching Share Plan ("MSP"). The numbers of Options were calculated by reference to a price of 10.29, being the Company's middle market closing price for a Share on Friday 23 June 2017.
DSB: Awards granted in accordance with the Company's DSB follow the deferral of a portion of the PDMR's bonus entitlement for the year ended 31 March 2017. Subject to continued employment with Landsec, the PDMRs will become entitled to exercise the Options arising from the DSB between 26 June 2018 and 26 June 2022.
LTIP: LTIP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return and Total Property Return performance conditions for the three-year financial period ending 31 March 2020. The figures shown below are the maximum entitlement should the awards vest in full. 
MSP: MSP awards normally vest on the third anniversary of grant subject to the Company's achievement of certain Total Shareholder Return and Total Property Return performance conditions for the three-year financial period ending 31 March 2020. The figures shown below are the maximum entitlement should the awards vest in full. MSP awards have been granted on a 2:1 matching basis by the Company and the individual (directly or through their connected persons) is required to acquire within 30 days of grant, and then hold throughout the three-year term, Shares equal in value to 50% (net) of the MSP award in order to qualify for the full MSP award. The Executive Directors are not eligible to participate in the MSP. 
Subject to continued employment with Landsec and the scheme rules, the PDMRs will become entitled to exercise the Options arising from the LTIP and MSP between 26 June 2020 and 26 June 2027. 
NameDSB AwardLTIP Award MSP Award
Martin Greenslade* 17,558148,795 n/a
Robert Noel* 28,468228,583  n/a
Collette O'Shea n/a49,90829,945
Scott Parsons n/a47,017 28,210 
Enquiries to:
Tim Ashby, Group General Counsel and Company Secretary
Land Securities Group plc
Tel: 020 7024 5256
1
Details of the person discharging managerial responsibilities
a)
Name
Martin Greenslade
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Sharesave Options over the Company's Shares under the 2017 Sharesave Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
8.59
1,047
d)
Aggregated information
- Aggregated volume
- 8.59 per share
1,047
- Price
- Total Price 8,993.73
e)
Date of the transaction
23/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Colette O'Shea
2
Reason for the notification
a)
Position/status
Managing Director, London Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Sharesave Options over the Company's Shares under the 2017 Sharesave Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
8.59
1,047
d)
Aggregated information
- Aggregated volume
- 8.59 per share,047
1,047
- Price
- Total price 8,993.73
e)
Date of the transaction
23/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
Martin Greenslade
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Vest of Options granted under the Company's Deferred Share Bonus Planon 25 June 2015.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
n/a
17,066
d)
Aggregated information
- Aggregated volume
-  per share
n/a
17,066
- Price
- Total Price n/a 
e)
Date of the transaction
25/06/2017
f)
Place of the transaction
n/a
1
Details of the person discharging managerial responsibilities
a)
Name
Robert Noel
2
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Vest of Options granted under the Company's Deferred Share Bonus Plan on 25 June 2015
c)
Price(s) and volume(s)
Price(s)
Volume(s)
n/a
25,231
d)
Aggregated information
- Aggregated volume
-  per share
n/a
25,231
- Price
- Total Price n/a 
e)
Date of the transaction
25/06/2017
f)
Place of the transaction
n/a
1
Details of the person discharging managerial responsibilities
a)
Name
Colette O'Shea
2
Reason for the notification
a)
Position/status
Managing Director, London Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Vest of Options granted under the Company's Deferred Share Bonus Plan on 25 June 2015
c)
Price(s) and volume(s)
Price(s)
Volume(s)
n/a
7,748
d)
Aggregated information
- Aggregated volume
-  per share
n/a
7,748
- Price
- Total Price n/a 
e)
Date of the transaction
25/06/2017
f)
Place of the transaction
n/a
1
Details of the person discharging managerial responsibilities
a)
Name
Scott Parsons
2
Reason for the notification
a)
Position/status
Managing Director, Retail Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Vest of Options granted under the Company's Deferred Share Bonus Plan on 25 June 2015
c)
Price(s) and volume(s)
Price(s)
Volume(s)
n/a
7,154
d)
Aggregated information
- Aggregated volume
-  per share
n/a
7,154
- Price
- Total Price n/a 
e)
Date of the transaction
25/06/2017
f)
Place of the transaction
n/a
1
Details of the person discharging managerial responsibilities
a)
Name
Martin Greenslade
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
17,558
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
17,558
- Price
- Total Price 180,671.82
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Martin Greenslade
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
148,795
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
148,795
- Price
- Total Price 1,531,100.55
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Robert Noel
2
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Deferred Share Bonus Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
28,468
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
28,468
- Price
- Total Price 292,935.72
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Robert Noel
2
Reason for the notification
a)
Position/status
Chief Executive
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
228,583
d)
Aggregated information
- Aggregated volume
- 10.29per share 
228,583
- Price
- Total Price 2,352,119.07
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Colette O'Shea
2
Reason for the notification
a)
Position/status
Managing Director, London Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
49,908
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
49,908
- Price
- Total Price 513,553.32
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Colette O'Shea
2
Reason for the notification
a)
Position/status
Managing Director, London Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Matching Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
29,945
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
29,945
- Price
- Total Price 308,134.05
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Scott Parsons
2
Reason for the notification
a)
Position/status
Managing Director, Retail Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
47,017
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
47,017
- Price
- Total Price 483,804.93
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 
1
Details of the person discharging managerial responsibilities
a)
Name
 Scott Parsons
2
Reason for the notification
a)
Position/status
Managing Director, Retail Portfolio
b)
Initial notification/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Land Securities Group PLC 
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
- Shares
- GB0031809436
b)
Nature of transaction
Award of Nil Cost Options over the Company's Shares under the Matching Share Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
10.29
28,210
d)
Aggregated information
- Aggregated volume
- 10.29 per share 
28,210
- Price
- Total Price 290,280.90
e)
Date of the transaction
26/06/2017
f)
Place of the transaction
London 

This information is provided by RNS
The company news service from the London Stock Exchange
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